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Tuesday, October 30, 2012

RESOLUTION OF THE ___________ ____________ MANAGEMENT CO. LTD

25thSeptember2012

The Chairman informed the Members of the council that the Corporation had approached Peoples Bank Unity Plaza branch for issuing of Letter of Credit for Purchase of floor tiles favoring ______ AN _______ COMPANY LTD for a period of three months. After discussions, the Management Council then passed the following resolution.

“IT WAS RESOLVED THAT the approval of the Management Council be and is hereby given to the Management Corporation to approach and avail the Letter of Credit limit to be sanctioned by Peoples Bank, unity Plaza Branch for the amount not exceeding in the aggregate USD Nine Thousand Eight Hundred Forty And Cents Sixty Four(USD 8,640.64) against 100% margin money or for such amount and for such period upon the terms and conditions as may be stipulated by the respective bank(s) and mutually agreed by the company”.

“FURTHER, IT WAS RESOLVED THAT Dr ________ _________, Chairman (USDC), be and is hereby authorized to sign, execute, and deliver all the documents as may be necessary for the proper availing of the said facility and as may be required by the Bank and further to furnish, sign, execute and deliver such indemnities and/or declarations and /or affidavits on behalf of the Corporation in favour of the Bank as may be required by the Bank in any matter related hereto and generally to do all such acts and deeds as may be necessary for the availment of the said financial facility and for all matters connected therewith and/or incidental thereto, including delegating and the powers to execute documents by way of a Power of Attorney, if necessary.”

“IT WAS RESOLVED FURTEHR that the Common Seal of the Corporation may be moved out of the Registered Office to affix the same on the document(s) as required by the Bank for the above purpose.”

“FURTHER RESOLVED THAT a Certified True Copy Of this Resolution be furnished to the Bank for necessary arrangement of this facility.